Overview
- Rocket Lab shares climbed Monday after Needham raised its price target to $120, with the stock touching $123.94 before closing near $117.
- Q1 revenue reached $200.3 million, up about 63%, with a record 38.2% gross margin and a $0.07 loss per share, and guidance set Q2 revenue at a $232.5 million midpoint.
- Backlog rose to $2.2 billion after 31 bookings for Electron and HASTE, taking the manifest to more than 70 launches and adding five dedicated Neutron missions through 2029.
- The company broadened its space-systems reach with Space-Based Interceptor work tied to Golden Dome and a $30 million Anduril HASTE deal, plus the Mynaric and Motiv acquisitions that add laser links and robotics.
- Neutron, a medium-lift rocket targeting a test flight in Q4 2026, remains the key milestone as the CFO said a potential SpaceX IPO could steer investor attention toward companies with proven hardware and contracts.